Huband + Wife Team Family Practice (Physician + Sonographer/Manager)

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ValleyGuy

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I didn't know where to post this, so moderators if this needs to be moved, please move it.

Background:
I am at the end of my 3rd year of medical school and will be applying to family medicine residencies this coming Fall. My plan is to do as many emergency medicine electives I can during residency. Post residency I either plan on doing a 1 year fellowship in ER or OB and then going into practice that following year in in-patient care as a hospitalist while moonlighting in urgent care or a smaller, rural ER with the intent on saving as much as I can to finally open up my own family practice, about 2 years post residency/fellowship.

Question:
My question is that my wife is looking for a way to help me run the practice. She has a management background, but no experience in medical office management, billing/coding, etc... Do you all think it would be profitable/wise for her to become certified in ultrasonography and medical office management during these next 5 years I am going to be finishing medical school and training. Throughout my rotations, I have seen ultrasound utilized tremendously, and it seems as if there is both a diagnostic and financial advantage to the practice that she could offer, being able to both run the practice and do the ultrasounds? I plan on offering OB services and want to do as much imaging in-house as we can, both for the quicker diagnostic advantage, and because of the billing potential. What do you all think? (By the way, my wife is a smart one. Her only stipulation to starting the practice with me in the future is that she is a 50% partner. I picked a good one! Smart and savvy). Thanks all and sorry so long of a post.

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I would first look into the statistics of opening your own clinic at this time. I can't stress enough how less a doctor knows about economics. Get a second/third..etc opinion from experts around you. There is no need for your wife to rush into things just yet.
 
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I would first look into the statistics of opening your own clinic at this time. I can't stress enough how less a doctor knows about economics. Get a second/third..etc opinion from experts around you. There is no need for your wife to rush into things just yet.
I agree, she is finishing a generic bachelor in business degree (management) right now. But, that would be one of my biggest concerns, that her training would be "wasted" if I didn't go into private practice. Economically, here in deep south Texas (RGV), it still seems profitable to open a private practice from the many primary care physicians I have talked to. However, just because it is still profitable, I don't know if the work/headache/responsibility is worth it...
 
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I agree, she is finishing a generic bachelor in business degree (management) right now. But, that would be one of my biggest concerns, that her training would be "wasted" if I didn't go into private practice. Economically, here in deep south Texas (RGV), it still seems profitable to open a private practice from the many primary care physicians I have talked to. However, just because it is still profitable, I don't know if the work/headache/responsibility is worth it...
policies change really quick. I personally would not want to open my own clinic until I have accrued a good 5-10 years at a group practice. I am sure I would come out of that experience sober. I don't think your wife is wasting her time since the degree can still allow her to work...just make sure she isn't doing it before her own wishes and what she wants to do in life.
 
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policies change really quick. I personally would not want to open my own clinic until I have accrued a good 5-10 years at a group practice. I am sure I would come out of that experience sober. I don't think your wife is wasting her time since the degree can still allow her to work...just make sure she isn't doing it before her own wishes and what she wants to do in life.
That's the last thing that I would want to do: to pressure her into doing something I want her to do, and not what she wants to do herself. Sonographers do pretty well (circa 70,000/yr). So, you're right that her training wouldn't be wasted either way if this is truly something she wants to do. Thanks for the wisdom Petrichor1. What is your background by the way?
 
Why do you think your wife wanting a 50% stake in the practice is a good thing? That would send alarm bells ringing in my head.. And 50/50 between 2 partners means nothing will get done. You bring tremendously more to the table as the sole physician in a practice than she does as a ultrasound tech / office manager, both of which can be had for a few dozen grand. I'd say the only thing smart about her is the fact that she's setting herself up to clean you out financially when she begins resenting you for being such a pushover.
 
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I'm just going to through out the thought that not as many people can work full time as co-owners with their spouse as think that they can.....you won't have enough staff to need a manager at first and when you do you can afford one. Pay your wife for her time as ultrasound when she's needed. don't muddy the waters at risk to your marriage

the state will call her 50% owner due to your marriage, it's a fallacy to call an ultrasound tech a 50% contributor to a physician's practice on merit
 
I didn't know where to post this, so moderators if this needs to be moved, please move it.

Background:
I am at the end of my 3rd year of medical school and will be applying to family medicine residencies this coming Fall. My plan is to do as many emergency medicine electives I can during residency. Post residency I either plan on doing a 1 year fellowship in ER or OB and then going into practice that following year in in-patient care as a hospitalist while moonlighting in urgent care or a smaller, rural ER with the intent on saving as much as I can to finally open up my own family practice, about 2 years post residency/fellowship.

Question:
My question is that my wife is looking for a way to help me run the practice. She has a management background, but no experience in medical office management, billing/coding, etc... Do you all think it would be profitable/wise for her to become certified in ultrasonography and medical office management during these next 5 years I am going to be finishing medical school and training. Throughout my rotations, I have seen ultrasound utilized tremendously, and it seems as if there is both a diagnostic and financial advantage to the practice that she could offer, being able to both run the practice and do the ultrasounds? I plan on offering OB services and want to do as much imaging in-house as we can, both for the quicker diagnostic advantage, and because of the billing potential. What do you all think? (By the way, my wife is a smart one. Her only stipulation to starting the practice with me in the future is that she is a 50% partner. I picked a good one! Smart and savvy). Thanks all and sorry so long of a post.


You do not want to go into private practice with a family member or a spouse. It is difficult.


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